Federal student loans generally have lower rates of interest compared to private student loans, though they may not cover the complete cost of education.
When federal student loans aren’t enough, private student loans can be very helpful in filling the financial gap.
The most common federal loans are Stafford Loans, Perkins Loans, and PLUS Loans.
Student loans are a form of financial aid designed to help students afford a college education.
The rate of interest of these loans is lesser than the rate of other kinds of loans. Also, they can get money to meet their other expenses such as books, travel, accommodation and more.
Also, their other terms and conditions are very simple so that students may benefit from them without any problem. Even though the rate of Capital One student loan is higher than the federal student loans, they are certainly a great alternative for the ones who exhaust all their financial aid.
Article updated to reflect the latest interest rate information.
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